Immutable (IMX) is preparing for a major token unlock event, where a total of 32.47 million IMX tokens worth $38 million will be released into circulation. The unlock event will take place on September 6 at around 12:00 GMT. IMX Tokens will be allocated into two main groups for ecosystem development and project development.
Unlocked IMX Tokens Will Be Allocated to Ecosystem and Project Development
Ecosystem development 15.91 million IMX tokens will be unlocked, representing 1.01 percent of the circulating supply and worth approximately $18.62 million. Project development For the 16.56 million tokens, which constitute 1.05 percent of the circulating supply and have an estimated value of $19.37 million, will be unlocked and put into circulation. As a whole, the token allocations to be made to the two main groups correspond to 0.99 percent and 1.04 percent of the market value, respectively. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
This upcoming unlock event will take place on August 9, 2024 and will cost the same amounts IMX tokenThis follows the previous token unlock event where ’s were released into circulation. During this event, 15.91 million IMX worth $19.58 million were allocated for ecosystem development, corresponding to 1.01 percent of the circulating supply. This corresponds to 1.05 percent of the market capitalization.
At the event, 16.56 million IMX worth $20.37 million, corresponding to 1.05 percent of the circulating supply, were unlocked for project development. This corresponded to 1.09 percent of the market value at the time.
Token Unlockings Should Be Followed Carefully
Token unlock events is critical to the continued development of the Immutable ecosystem, aiming to drive growth and support various projects on the platform. However, regular token unlocks often have a negative impact on the market, as while it provides the necessary funding for ecosystem and project progress, it also increases the circulating supply, which can impact the token’s price and overall market dynamics.
Investors should be aware that IMX may cause fluctuations in market performance. altcoin They need to be prepared for price fluctuations before and after the upcoming token unlock event. Due to the high value of the upcoming unlock event in US dollar terms, the price of IMX may come under selling pressure.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
